June 16, 2020  Terry’s Tips Trade Alert  – Honey  Badger  Portfolio

 

We have become negative net delta:

 

BTC 1 IBM 19Jun20 117 put (IBM200619P117)
STC 1 IBM 16Oct20 120 put (IBM201016P120) for a credit of $8.08 (selling a diagonal)

 

BTC 2 IBM 19Jun20 120 puts (IBM200619P120)

STO 2 IBM 19Jun20 125 puts (IBM200619P125)
BTO 2 IBM 16Oct20 125 puts (IBM201016P125)
STC 2 IBM 16Oct20 120 puts (IBM201016P120) for a debit of $.44 (buying a vertical roll)

BTC 1 IBM 19Jun20 120 call (IBM200619C120)
STO 1 IBM 19Jun20 130 call (IBM200619C130)
BTO 1 IBM 16Oct20 130 call (IBM201016C130)  

STC 1 IBM 16Oct20 120 call (IBM201016C120) for a credit of $.62 (selling a vertical)   

 

BTC 1 IBM 19Jun20 120 call (IBM200619C120)
STO 1 IBM 19Jun20 128 call (IBM200619C128)
BTO 1 IBM 16Oct20 125 call (IBM201016C125)  

STC 1 IBM 16Oct20 123 call (IBM201016C123) for a credit of $.54 (selling a vertical)   

 

Be[Ta1]  prepared to change this (these) price limit(s) by $.05 or more in order to get an execution.

 

Happy trading.

 

Terry